How can you tell if you need to engage the services of a business coach? If any one of the following is true, then you probably need to hire a business coach.
1) If you are making too little money.
2) If your sales are plummeting.
3) If your competitors are luring your customers away from you.
4) If your cost of doing business is on the rise while your revenue is falling.
5) If you are working too many hours and still not getting the results you want.
6) If you are dealing with too many staff-related issues.
7) If you simply feel that running your own business isn’t much better than having a job.
8) If, on the surface, everything seems more than fine, but the money isn’t rolling in.
9) If in spite of all your and your staff’s efforts nothing seems to get done around your business establishment.
10) If in spite of doing everything in your power, you are unable to take your business to the next level.
It can be argued that in the current state of the economy around the world and even in Australia, one of the above is true for most business owners. True. But there is no denying that the dominant majority of businesses around the world fail within only a few years, even when run by smart, bright and highly motivated individuals. That’s because it takes a lot more than being smart, bright and highly motivated to successfully run a business. Yes, there is a difference between what most business owners think they know about running a business and what they actually know. But there is still hope. That’s because the gap between what business owners think they know about the business they run and business reality can be filled quite easily and effectively by engaging the services of a good business coach.
A good business coach is able to do so because a good business coach is a generalist, unlike a business consultant, who is generally a specialist i.e. who often has high expertise and skill in a certain area of business or a certain industry. There is no denying that business consultants have a significant role in the world of business, but what most business owners—being small business owners—need and often want when the abovementioned signs start appearing is a good business coach. That’s so because most small business owners are looking for exponential changes in their businesses very quickly. Yes, we’re talking about changes in periods as short as two months. In most cases a business consultant assists in making changes that deliver incremental results. Such results can mean millions of dollars to the bottom-line of large businesses, but don’t mean much when it comes to small businesses, especially in the short run. On the other hand, the results brought about by a business coach can deliver profits of anything between several thousand dollars to several hundreds of thousands of dollars to small businesses. Such amounts of profits can mean the difference between the success and failure of any small business.
Furthermore, as the business world is experiencing somewhat rapid and drastic change, a lot of business owners, especially small business owners, have more questions about how to successfully run their businesses and how to achieve the goals they have set than they have answers. Engaging the services of an expert business coach is the best solution in such a situation. That’s because business owners can get answers to issues and devise and implement strategies in real-time with the assistance of a business coach—who guides the whole process instead of merely writing up reports and playing no active role in the execution process.
In fact, a good business coach can easily be compared to a sports coach. That’s because both sorts of coaches devise strategies, help in the implementation of tactics and guide the individuals or teams of individuals they coach to success. In the case of a business coach, this takes the form of a business plan, while in the case of a sports coach it takes the form of a game plan.
An expert business coach not only views each member of the team as unique, but also assists the business owner in exploring new and much more effective and efficient ways of utilizing the available resources in order to achieve better results. Not only that but a good business coach also motivates, inspires and challenges the business owners being coached to succeed.